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Fri, December 6, 2024
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[ 05:01 AM ] - United States, The Motley Fool
Billionaire Steven Cohen Sold Point72's Entire St .. anging Artificial Intelligence (AI) Stock Instead

Billionaire Steven Cohen Sold Point72's Entire Stake in Supermicro and Is Piling Into This Game-Changing Artificial Intelligence (AI) Stock Instead


Published on 2024-12-06 05:01:11 - The Motley Fool
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  • Cohen's Point72 Asset Management swapped out a potentially troubled AI stock for the presumed cream of the crop.

The article from The Motley Fool discusses billionaire Steven Cohen's recent sale of Super Micro Computer (SMCI) stock. Cohen, known for his hedge fund Point72 Asset Management, significantly reduced his holdings in Super Micro, a company that has been riding the wave of AI and high-performance computing demand. Despite the stock's impressive performance, with shares soaring over 200% in 2023, Cohen's decision to sell might reflect concerns about the stock's valuation or potential market saturation. The article suggests that while Super Micro has benefited from the AI boom, its high valuation could make it vulnerable to corrections, prompting Cohen to lock in profits. However, the piece also notes that Super Micro's future growth potential remains strong due to ongoing demand for AI infrastructure, though investors should be cautious about the stock's volatility and high expectations already priced into its shares.

Read the Full The Motley Fool Article at:
[ https://www.fool.com/investing/2024/12/06/billionaire-steven-cohen-sold-super-micro-ai-stock/ ]

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